Tag: Billion

Cigna Corp.’s $54-billion purchase of Express Scripts Holding Co. is being called the “best case scenario” for the pharmacy-benefits manager’s beleaguered investors. The deal is “clearly a positive turn of events” for Express Scripts, Evercore ISI’s Ross Muken wrote. The company’s role as a middleman hired by insurers and employers to negotiate discounts from drugmakers…

Cigna Corp. agreed to buy Express Scripts Holding Co. for $54 billion in cash and stock, another move toward consolidation between U.S. health insurers and the companies that oversee patients’ drug benefits. The price includes $48.75 in cash and 0.2434 shares of stock of the combined company per Express Scripts share, the companies said in…

Two of Tesla Inc.’s largest shareholders are supporting a plan to award Elon Musk a compensation package valued at $2.6 billion, a show of confidence in the electric-car maker’s bid to keep its visionary CEO around for the long haul. Baillie Gifford & Co. and T. Rowe Price Group Inc., which combined own about 14…

CVS Health Corp. kicked off what’s likely to be one of the largest corporate-debt financings ever as it seeks to fund its $67.5 billion acquisition of Aetna Inc. The blockbuster deal comes as investment-grade bonds have had their worst start to the year in decades. Yields on high-grade bonds have risen half a percentage point…

As some of Wall Street’s largest investors reconsider their relationships to the firearms industry, one titan says he never had one to begin with. David Rubenstein’s $195 billion private equity firm, Carlyle Group LP, has never invested in guns or tobacco, Rubenstein said in an interview on Monday with Freakonomics Radio. “When I set up the firm…

Axa SA agreed to buy XL Group Ltd. for $15.3 billion in cash, the biggest-ever European acquisition of a U.S. insurer, sending its shares plunging. The French firm fell the most since June 2016, with analyst Daniel Bischof of Baader Helvea AG saying the deal has a sound logic but the price is at the…

Noble Group Ltd. handed its outgoing co-Chief Executive Officer Jeff Frase a remuneration package worth about $20 million last year, even as the commodity trader slumped to a record loss of almost $5 billion. The scale of the award, reported in Noble’s annual financial statements last week, is likely to provoke consternation as the embattled…

By Siemens AG will press ahead with an initial public offering of its health-care unit, as Chief Executive Officer Joe Kaeser unloads another key business at Europe’s largest engineering company. Photographer: Simon Dawson/BloombergThe IPO of a 15 percent stake in Siemens Healthineers is planned for March 16, the Munich-based company said in a statement on…

Talk about a year to forget for General Electric Co. The beleaguered manufacturer is on pace to clinch its 12th consecutive monthly decline with shares closing out February below where they started. The S&P’s 500 Index rose in 10 of those months. The year-long decline is the longest losing streak on record, according to data…

Comcast jumped into the fray for Sky Plc, challenging Rupert Murdoch’s 21 Century Fox Inc. and Walt Disney Co. with a cash offer valuing the business at 22.1 billion pounds ($31 billion) and opening the possibility of a bidding contest for the U.K.’s biggest pay-TV company. After months spent scoping out Sky’s technology platform and content…

It was supposed to be a good year for Taoiseach Leo Varadkar. In January, for the first time since 2007, the Irish government—which was so savaged by the global financial crisis of 2008 that it was under the International Monetary Fund’s thumb until 2013—announced a budget surplus. Drastic survival tactics had paid off, including cutting […]